Are They Really the Most Expensive Rooms in the Home to Renovate?
There is a multitude of reasons why homeowners renovate their kitchens. Primarily, kitchen and bathroom renovations are an easy way to update your space and put value back into your home. This is especially true if you are seeking to sell your home in the near future. Perhaps you are working on a budget, or you are looking to get the most value for money from your renovation. What room would be best to renovate?
When most people think of updating, kitchen and bathroom renovations come to mind as the first ones to do. After all, you spend quite a bit of time in both spaces. And because of wear and tear, they are often are the first areas in the home to need updating. That, of course, leaves us to wonder; are they really the most expensive rooms to renovate?
There is no clear-cut answer to this.
DIY vs. Hiring the Experts
Part of it depends on how you look at it, and the other part of it depends on your personal taste. A person who does a lot of DIY could achieve these renovations at minimal costs, but on the other hand, someone wanting high-end finishes and materials will obviously have a higher cost. The difference in these two situations can create quite a difference in the expense of a renovation. Those who do it themselves will not have labour costs associated, whereas those who utilise contractors to complete their kitchen and bathroom renovations will have labour costs to consider.
Investment in your home
The other consideration is that different areas of the home retain value from renovations better than other parts of the home. Minor kitchen renovations can provide 90% resale value. That means for every dollar you spend (within reason) 90 cents of it adds value to your home’s value. This means that even if the cost of your kitchen renovations is higher than another room of the house, it still makes sense to do the kitchen as in the end, it is worth more.
Bathrooms are much like kitchens in the resale value where they retain much of what you put into them. There is an exception though. Higher priced bathroom renovations do not always make financial sense. Changing fixtures, the vanity and toilet, and other such items will add value, whereas changing layouts and remodels of that level just don’t bring back the same value. But if upgrading your living space is the reason for your renovation then those factors far out-weight the cost involved.
So What’s the Verdict on Kitchen and Bathroom Renovations?
Although kitchen and bathroom renovations may appear to be pricier, and more expensive, in reality, they are well worth doing because of the value they add to your home, and the happiness and functionality they add to your everyday life.
When you are considering renovations of any kind, it can often help to speak to local contractors and those who are in the business of renovating the types of spaces you are looking to update. Wonderful Kitchens is the perfect place for those considering kitchen and bathroom renovations. Sydney has been home to Wonderful Kitchens for over 40 years and has benefited from our experience and expertise in creating the perfect home for your needs and your budget. Check out one of Sydney locations today, view our kitchen galleries for design ideas, or contact us to see how we can help make your dreams a reality.